Published on 7/31/2017 in the Prospect News Structured Products Daily.
New Issue: BofA prices $118 million Accelerated Return Notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 31 – BofA Finance LLC priced $118 million of 0% Accelerated Return Notes due Sept. 28, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 10%. Investors will be exposed to any index decline.
BofA Merrill Lynch is the underwriter.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Accelerated Return Notes
|
Underlying index: | S&P 500
|
Amount: | $117,997,200
|
Maturity: | Sept. 28, 2018
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 300% of any index gain, capped at 10%; exposure to any index decline
|
Initial index level: | 2,475.42
|
Final index level: | Average of index’s closing levels on five trading days ending Sept. 25, 2018
|
Pricing date: | July 27
|
Settlement date: | Aug. 3
|
Underwriters: | BofA Merrill Lynch
|
Fees: | 2%
|
Cusip: | 097096606
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.